Atlantic Realty Companies of Tysons, VA and New York-based alternative investment firm Angelo, Gordon & Co. have purchased the Tysons Concourse from California State Teachers’ Retirement System for $78.8 million. The asset consists of two Class A office buildings located near Atlantic’s headquarters in Tysons, VA. Situated just one block from the recently opened Spring Hill station on Metrorail’s Silver Line, the buildings have a total of 347,684 sqf of space and are 76 percent leased to tenants including Frontpoint Security, Konica Minolta, and MassMutual. Completed in 1987, the building’s amenities include a café, lighted basketball courts, a theater-style conference center, and a fitness center. The Atlantic/Angelo, Gordon partnership plans a $6 million renovation to update the physical building environment and amenities.
“Tysons Concourse provides an excellent opportunity for us to participate further in the evolution of Tysons Corner from a suburban office enclave to a booming live-work-play transit-oriented community,” said David A. Ross, President, Atlantic Realty. “Along with our partners at Angelo, Gordon, we are very bullish on the future of this gateway to northern Virginia on Metrorail’s Silver Line.”
